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Nearly Naked (Simple Trades)

  • #10,061
  • Aug 14, 2011 6:18am Aug 14, 2011 6:18am
Saxon is like a Stealth fighter Pilot to me. Dude's got a solid scientific time-tested plan before take-off (including an emergency plan), is locked on a high probability target, and takes no prisoners. At end of day he is a friendly, humble and generous guy - and one of us!.....(but Vegetarian...ha, ha, ha!)
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #10,062
  • Aug 14, 2011 8:07am Aug 14, 2011 8:07am
Hi Saxon,

I just discovered your thread and got to say you are doing a great job.
I mean that I am trading in the same way for a half a year and just find you are trading very similar. You can check out my posts or my blog.

How's your trading results? trading live?
and the last but not the least question - how do you determine the SL?

Cheers
  • #10,063
  • Aug 14, 2011 11:33am Aug 14, 2011 11:33am
Quoting teemo
Saxon is like a Stealth fighter Pilot to me. Dude's got a solid scientific time-tested plan before take-off (including an emergency plan), is locked on a high probability target, and takes no prisoners. At end of day he is a friendly, humble and generous guy - and one of us!.....(but Vegetarian...ha, ha, ha!)
Haha, yep, vegetarian But it's a cheap diet right
  • #10,064
  • Aug 14, 2011 11:36am Aug 14, 2011 11:36am
Quoting suirad
Hi Saxon,

I just discovered your thread and got to say you are doing a great job.
I mean that I am trading in the same way for a half a year and just find you are trading very similar. You can check out my posts or my blog.

How's your trading results? trading live?
and the last but not the least question - how do you determine the SL?

Cheers
For my stop loss, it is really a mix of factors. If you at taking a trade on a large time-frame, say Daily, then you will probably have a higher SL, but also a higher TP as well. So, maybe a 50-75 pips SL on Daily, 30-50 pip on H4 and 15-30 pip on H1. But again, it is really subjective to the situation. If you PPZ is really narrow, you can have a very tight SL. And vis versa. If that market is very volatile, you will need a much larger SL. But generally, the higher the timeframe the trade is being taken on, the higher the SL. I will show you on some of my charts I post later today.
  • #10,065
  • Aug 14, 2011 11:42am Aug 14, 2011 11:42am
Quoting Petar_Serbia
Thanks Saxon friend,
These two weeks was bad for me to be honest,price didnt resepct much volumes and chanles but as you know i keep risk 1.5 % per position and on that way i procetct balance for bad period than when good period comes just take profits ...
Goal is profit at end of year


How are you Saxon ?

Petar
Doing good, just chugging along. Survived the last two weeks really well. I think I only got stopped on 2 trades but the rest more than made up for it. I set a list of solid goals over the weekend for my trading and professional future, so I'm excited about that. Reach 1 goal, then that activates the next goal and so forth. 1st is to double my account. As soon as that happens, change my account to significantly larger positions. As soon as I hit a predefined return, then I am going to start a hedge fund, lease out an office and hire some of my buddies. I want to get back into the private world again
  • #10,066
  • Aug 14, 2011 1:01pm Aug 14, 2011 1:01pm
If AU can break North, target is confluence of Fib and "00"
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 127 KB
  • #10,067
  • Aug 14, 2011 5:30pm Aug 14, 2011 5:30pm
Quoting Saxon
If AU can break North, target is confluence of Fib and "00"
are you going to take it? long-term direction is bullish.

however, same on NU. 50% at 0.8403, previous resistance and psy. factor

Cheers
  • #10,068
  • Aug 14, 2011 9:11pm Aug 14, 2011 9:11pm
Ya,
I got a sell limit right around 1.05
  • #10,069
  • Edited 9:22am Aug 15, 2011 5:42am | Edited 9:22am
Goood Morning Traders

I didn't find many interesting pairs to trade but my hint for today’s morning is...
AUDCAD with SHORT entry @ 1.0300 with potential 1.50% downward move to 1.01200
The 1.0300 level is a cluster of fibbonaci, support line and resistance of downtrend channel.
I think I'll try to jump into that train. I am waiting for a good entry point.

UpDate: 3.10pm GMT
Unfortunately price broke the structure and the scenario has been denied for this monent.
It looks like the price is heading north to the next stage which is 1.0380 (next fibbonaci level)

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD.jpg Size: 146 KB
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  • #10,070
  • Aug 15, 2011 5:42pm Aug 15, 2011 5:42pm
Quoting Saxon
Ya,
I got a sell limit right around 1.05
Im in
See what Monetary Mins do to it...
Attached Image (click to enlarge)
Click to Enlarge Name: auuuuu.jpg Size: 125 KB
  • #10,071
  • Aug 16, 2011 7:32am Aug 16, 2011 7:32am
Hi Traders, hi Saxon
Are we getting into Head & Shoulder on GOLD?
Any comments?

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.jpg Size: 135 KB
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  • #10,072
  • Aug 16, 2011 7:36am Aug 16, 2011 7:36am
Hello guys i took 2 sell positions on AUDUSD >

YOu can see analysis here >

Inserted Video



Cheers
Petar
"Buy on fear, sell on greed !!!
  • #10,073
  • Aug 16, 2011 8:03am Aug 16, 2011 8:03am
Im out now. Good trade
TPd at +72
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 131 KB
  • #10,074
  • Aug 16, 2011 9:12am Aug 16, 2011 9:12am
Quoting Saxon
Im out now. Good trade
TPd at +72
congrats. that's it with this one? no orders left for running?
  • #10,075
  • Aug 16, 2011 9:17am Aug 16, 2011 9:17am
Quoting halkins
Hi Traders, hi Saxon
Are we getting into Head & Shoulder on GOLD?
Any comments?

Attachment
That's exactly what I was looking at...not sure shorting it here is the highest probability trade in light of this huge trend up but there are fantastic opportunities if it turns, to stack it down to the gap fill at $1663.

I'm looking for PA right around where are are at the moment.
  • #10,076
  • Aug 16, 2011 10:49am Aug 16, 2011 10:49am
Quoting suirad
congrats. that's it with this one? no orders left for running?
No I TPd the whole thing.
Looking at GBPJPY at H1 Fib right now
  • #10,077
  • Aug 16, 2011 11:00am Aug 16, 2011 11:00am
Quoting halkins
Hi Traders, hi Saxon
Are we getting into Head & Shoulder on GOLD?
Any comments?

Attachment
Could be, I dont have my XAU charts up, but will have a look
  • #10,078
  • Aug 17, 2011 7:55am Aug 17, 2011 7:55am
All CHF pairs are high-risk pairs to trade now as SNB is unpredictable with their interventions to save swiss frank.
However I see a possible short term retracement on CHFCAD.
Nice risk - reward ratio, nearly 6% open space to reach 50% Fibonacci on last leg form 0.7110 - 0.8110
Worth to try…

Attached Image (click to enlarge)
Click to Enlarge Name: CHFCAD.jpg Size: 133 KB
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  • #10,079
  • Edited 12:09pm Aug 17, 2011 11:58am | Edited 12:09pm
Hi Traders
Here’s a quick topic for your revision and discussion.
As you can see on the chart USDCAD is slowly closing its 2-week downtrend triangle formation.
Usually, price breaks similar formations with a dynamic movement.
Has anybody any suggestion on where will USDCAD break the triangle?
I think it will hit south through the bottom...
It's a perfect scenario for so called "stop-loss hunters"

Pink line is a very strong support line @ 0.9780.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 133 KB
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  • #10,080
  • Aug 18, 2011 4:56am Aug 18, 2011 4:56am
Good Morning Traders

When I went to my bed yesterday my short CADCHF position was “smiling” to me with nearly 1% in profits.
However I was aware that any CHF pairs are high-risk trades with SNB intervention around the corner.
Therefore I closed half and put my stop loss far away on breakeven.
Well, I couldn’t be more accurate. This morning Swiss Frank’s gone crazy with 125pips in ten minutes rampage.
My position wasn’t close and thankfully I can see frank is slowly giving back what it took overnite.

EURCHF
Any technical analysis on EURCHF is fairly rubbish as SNB can intervene anytime, but let's try...

As you can see despite all interventions and political climate EURCHF can’t break the ceiling and it’s sliding down towards triangle bottom (PINK LINE)
It’s crucial if EURCHF breaks or not the PINK support line.
If it breaks we can see dynamic move south, unless SNB will try to catch their fankie. Who the hell knows... ???

Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF.jpg Size: 106 KB
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